DISCOUNTED CASH FLOW: VALUING THE SYNERGIES CAUSED BY A HYPOTHETICAL MERGER OF TWO SUPERMARKETS (FLUXO DE CAIXA DESCONTADO: VALORANDO AS SINERGIAS PROVOCADAS … HIPOTÉTICA DE DOIS SUPERMERCADOS Livro 2)

The theme of this work is Discounted Cash Flow (DCF). Its general objective is to measure, using the DCF technique, the financial synergies caused by a hypothetical merger between two privately held supermarkets.

To this end, the main technical procedures for the adequate evaluation of companies using this technique are presented.

The following methodology is used: the neoperspectivist paradigm, and Network Theory, as its epistemological axis of investigation; the hypothetical-deductive method, and the pragmatic- inductive method, as its logical axis of investigation; non-participant observation, of the bibliographic and documentary survey type, as well as the ex loco case study type , as its technical axis of investigation.

Discusses the main facets of the Mergers and Acquisitions (M&A) process.

It concludes that this work focuses only on the financial dimension of evaluating a merger, and there are other important dimensions to evaluate, such as climate and cultural; In other words, the economic-financial value of a company is not its real value.